FY2025 EPS Estimates for Palomar Increased by Zacks Research

Key Points

• Zacks Research has revised its FY2025 earnings estimate for Palomar Holdings, Inc. to $6.62 per share, slightly up from the previous estimate of $6.61, indicating positive outlook compared to the consensus estimate of $5.99 per share.
• Palomar's recent quarterly earnings report revealed an EPS of $1.76, surpassing expectations, with revenue growth of 47.6% year-over-year, amounting to $496.29 million.
• JPMorgan Chase & Co. and Evercore ISI have updated their price targets for Palomar's shares, with current targets now between $151.00 and $170.00, reflecting various outlooks on the stock's performance.

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Stock analysts at Zacks Research increased their FY2025 earnings per share (EPS) estimates for shares of Palomar in a research note issued to investors on Tuesday, September 16th. Zacks Research analyst Team now forecasts that the company will post earnings per share of $6.62 for the year, up from their previous estimate of $6.61. The consensus estimate for Palomar's current full-year earnings is $5.99 per share. Zacks Research also issued estimates for Palomar's Q3 2026 earnings at $1.89 EPS.

PLMR has been the topic of several other reports. Keefe, Bruyette & Woods lowered their price target on Palomar from $204.00 to $172.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Evercore ISI lifted their price target on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. Wall Street Zen cut Palomar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. decreased their target price on Palomar from $170.00 to $158.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. Finally, Piper Sandler decreased their target price on Palomar from $177.00 to $151.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Palomar presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.83.

Palomar Stock Performance

Shares of PLMR stock traded up $0.70 during mid-day trading on Thursday, hitting $116.54. 218,627 shares of the stock traded hands, compared to its average volume of 294,495. Palomar has a twelve month low of $85.00 and a twelve month high of $175.85. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 20.48 and a beta of 0.34. The company's 50-day simple moving average is $125.12 and its 200-day simple moving average is $140.88.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.08. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The company had revenue of $496.29 million for the quarter, compared to analysts' expectations of $173.86 million. During the same period last year, the firm earned $1.25 EPS. The firm's revenue for the quarter was up 47.6% on a year-over-year basis.

Institutional Trading of Palomar

Several hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its position in shares of Palomar by 93.7% in the second quarter. Osaic Holdings Inc. now owns 19,370 shares of the company's stock worth $2,933,000 after buying an additional 9,371 shares during the period. Orion Porfolio Solutions LLC boosted its position in Palomar by 55.3% during the second quarter. Orion Porfolio Solutions LLC now owns 9,826 shares of the company's stock valued at $1,516,000 after purchasing an additional 3,500 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Palomar by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 28,411 shares of the company's stock valued at $4,382,000 after purchasing an additional 178 shares during the last quarter. Hollencrest Capital Management boosted its position in Palomar by 56.5% during the second quarter. Hollencrest Capital Management now owns 313 shares of the company's stock valued at $48,000 after purchasing an additional 113 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Palomar by 8.3% during the second quarter. Public Sector Pension Investment Board now owns 91,179 shares of the company's stock valued at $14,064,000 after purchasing an additional 7,010 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Insiders Place Their Bets

In other news, President Jon Christianson sold 521 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $120.13, for a total value of $62,587.73. Following the completion of the sale, the president owned 59,036 shares of the company's stock, valued at $7,091,994.68. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan Knutzen sold 281 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $120.13, for a total value of $33,756.53. Following the completion of the sale, the insider directly owned 21,210 shares of the company's stock, valued at approximately $2,547,957.30. This trade represents a 1.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,378 shares of company stock valued at $2,332,252 over the last quarter. 3.70% of the stock is owned by insiders.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.